Statistics and Leasing Business Research Method

Question: Discuss about the Statistics and Leasing Business Research Method. Answer: Introduction: The car leasing business is becoming very popular nowadays everywhere in the world. The leasing of a car enables the customers to enjoy the right of the car and ride the car while the actual ownership of the car remains with the customer (Philipson and Sansom 2015). The leasing of car is practiced for different purposes like for traveling, office goers and other services (Baker and Donnet 2012). There are also many organizations who allow the customer to choose from a wide variety of cars. This car leasing business is popular as it allows the customers to enjoy all the benefits of having the car without paying the full amount of money. The car companies like Toyota also provides this services over a large number of destinations all across the country. The popular car leasing companies of the country are carlease.com, smartleasing.com, leaseplan and others. The assignment aims to study the change of the car leasing business over the entire country Australia. The present situation of the country for running the business, the opinion of the people of the country regarding leasing of car is being studied in this assignment. The assignment covers the methods of data collection and the analysis and interpretation of the data. The expected outcome of the results of analysis is also given in this assignment. The main problem statement concerned in this research work is to understand the present situation of the car leasing business in Australia. Aim and motivation: The aim of this research is to understand the present situation of the car leasing business in Australia and determine the factors affecting the growth of the business. The motivation of the project comes from the fact that car leasing business has grown in Australia over the years. There is also a new concept of novated car leasing business. This factor has also led to the growth of the business in the country. Research objective: The objective of the research is to understand the changes in the car leasing business in Australia and its effect on other factors like the employment, economic improvement and others. Literature review: The car leasing refers to taking a car in rent from the owner of the car. The car leasing is widely practiced in different countries o the world. There are a number of companies in the country Australia that performs this business (Featherstone 2016). This allows the customer to enjoy all the rights of the car without actually owning the car. The ownership of the car retains with the original owner. The business helps to save a lot of money for the common people that would be required for buying a car (Johns 2013). The popular companies that are involved in this business are leaseplan, smartlease and others. The company Leaseplan is the top company in the world for running the business. The company Leaseplan is operating for more than 50 years. The company has more than 95000 vehicles and employs more than 360 staffs. The main offices of the company are situated at Melbourne, Adelaide, Perth, Canberra, Brisbane, Sydney and other places. The company provides services to the Government as well as non government organizations (leaseplan.com.au 2016). Along with these, the company also takes part in various social activities like supporting sports and helping the kids. There is a concept called novated car leasing in the country Australia. In the case of novated car lease, the employer of the company is given a car by the company. The novated car lease involves the employer, employee and the car leasing company. Many popular cars leasing company like the Toyota is also involved in the business of such companies. The payment for the leased car is being made by the employer and the amount of lease is deducted from the income tax of the employee (Bannister 2013). The government of the country has also made several laws regarding the use o novated cars. The South Australian Government has made a deed of novation in which the employer makes a deduction from the salary of the employee. The amount is transferred to a separate account from where the claims and fees are deducted (Crisan and Mihaila 2014). The employer of the company also gets certain benefits because of this service. They are able to get some discounts on income tax. The car lease service also allows the employee to choose from a wide range of cars (Birdsall 2016). The car remains with the employee and can be transferred to other employee. The employer also has some benefits in this case. This procedure helps to increase the effective income of the employee without incurring an extra cost and also helps to maintain the fleet of vehicle for the company (Davis 2016). The leased car is also used for personal purposes. The companies like Fincar allow personal car leasing. The car leasing practices allows the people to use the car at a much lower price. The companies also have adopted the modern technologies to attract the customers. The company like Maxxia has developed app to ease the process of car leasing (maxxia.com.au 2016). Research gap: The research has been carried out by taking data of only one year. The research work could have been better if the previous year figure had been considered. A comparison with the previous years figures would reveal the change of the business in the country over the years. Research question: The research work involves many research questions. The main research question for this research work is given below: What is the present situation of the country for car leasing business? How many people of the country use this particular service? How many companies are there running this business? What is the number of people employed in this particular industry? Variables and hypotheses: The research involves many variables. The variables can be independent and dependent. The main variables involved in this study are the number of small and big companies running this particular business, the number of people involved in this business, the price of leasing the cars, the yearly earnings from this business. The variables like number of companies operating the business, number of people employed, price of leasing cars depends on the revenue generated from the business. The revenue generated from the business is taken as the dependent variable and the other three variables as the main independent variables for this research work. The hypotheses concerned in this research process are: H0: The car leasing business has not shown any changes over the last few decades. H1: The car leasing business has changed in the country Australia over the last few decades. Operational definition and measurements: The variables concerned in this research work are the number of people involved in this business, number of companies. The revenue generated from this research is measured in dollars. The figures are considered for the whole country. Therefore, there would some error in the values of the observation. An error of 5% in the values would be tolerated for carrying out this research. Research design and methodology: The research approach that would be used for this research process would be both qualitative and quantitative. The researcher will use positivism research philosophy for this research. The positivism research philosophy supports collection of data and making inferences from those collected datasets (Neuman and Robson 2012). The research approach that is to be used for carrying out this research would be deductive research approach. The availability of huge amount of data generally supports deductive research approach (Creswell 2013). Instrumentation/Sampling: The data collection for this research would be performed by the method of sampling. The data is to be obtained on the variables like the number of car leasing companies in the country, the number of people employed in this particular sector, the opinion of the people about the services provided, the amount charged for the service and others. The data would be of both primary as well as secondary type of data. The primary data would be collected with the help of questionnaire. The questionnaire would contain questions about the purpose of using the car services, the companies the customers prefer most, the opinion of the people about the car services and others. The sample has to be taken by covering the whole country. An effective sampling method like the cluster sampling can be used for this purpose. The different states of the country can be taken as the clusters. The primary data is to be collected from these clusters. The secondary data about the earnings of the company, number o f people employed in the company is obtainable from the companys website. Data analysis: The data so obtained will be analyzed with the help of different descriptive statistics methods. The descriptive statistics measures such as mean, median values can be calculated for the variables like the opinion of the people. A regression analysis can also be done by taking revenue generated as the dependent variable and other variables such as number of companies, number of people employed as the dependent variables. Expected outcome: It is expected that the null hypothesis of the test would be rejected. The rejection of null hypothesis will imply that the car leasing business in the country of Australia has changed. A comparison between the descriptive statistics values for the previous years and the past years will indicate the change in the business. Contribution of the research: The variables that are used in this research are number of customers, number of car leasing companies, employment in those companies and others. All these factors considered in the research have helped to understand the present situation of the business. The regression used in this research has helped in understanding the factors affecting the business. Conclusion: The study gives an idea about the car lease business running in the country Australia. The assignment gives a detailed idea about the data collection methods and the analysis of the data. The possible interpretation of the results of the analysis and the expected outcomes of this research are also discussed in this assignment. The assignment will help to understand the condition of the car leasing business in the country Australia. The assignment will also help the concerned authorities to take a deeper look into the matter and take necessary steps to improve the condition of car leasing business. Gantt chart: Week 6 Week 10 Week 14 Literature review Data collection and analysis Final business thesis( capstone) due Figure: Gantt chart (Source: Created by author) References: Baker, D. and Donnet, T., 2012. Regional and remote airports under stress in Australia.Research in Transportation Business Management,4, pp.37-43. Bannister, P., 2013. Greening your vehicle fleet.Keeping Good Companies,65(3), p.176. Birdsall, M., 2016. Innovation in the Membership Space: How the Royal Automobile Club of Victoria Diversified Services to Meet Changing Member Needs.Institute of Transportation Engineers. ITE Journal,86(2), p.31. Creswell, J.W., 2013.Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications. Crisan, E. and Mihaila, A., 2014. 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